Washington, D.C. has recently introduced the Housing in Downtown program, providing a 20-year tax abatement for converting office spaces into residential units in the city’s downtown area. The submission window opens on March 22 and offers a total funding cap of $41 million from FY24 to FY28.
According to Mayor Bowser, having a balance of residents and workers is crucial for sustaining a vibrant neighborhood. She believes that projects like the Elle apartments have already established DC as a national leader in office-to-residential conversions and this new initiative will bring more partners on board to continue transforming Downtown.
The Elle apartments are located at 20th and L Streets NW where the former Peace Corps headquarters once stood. This development broke ground in 2022 and will offer 163 residential units spread across an impressive area of185,000 square feet within Downtown DC.
